March 1, 1976
Page 4758
ANNOUNCEMENT OF CONTINUED HEARINGS IN PREPARATION FOR THE FIRST CONCURRENT RESOLUTION
Mr. MUSKIE. Mr. President, the Senate Budget Committee continues public hearings on the first concurrent resolution on the budget for fiscal 1977 on March 2, 4, 5, and March 9, 10, 11.
These hearings will provide valuable information to the Budget Committee for making decisions on the first concurrent resolution on the budget, which must be reported by the committee to the Senate by April 15. This first concurrent resolution on the budget will set targets for total budget outlays and total new budget authority as well as targets for spending in each major functional category of the budget. The first resolution will also specify targets for revenues for the coming fiscal year as well as the surplus or deficit in the budget which is appropriate in light of economic conditions and all other relevant factors.
On Tuesday, March 2, the topic will be"Retirement Programs and the 1977 Budget." The witnesses will be Commissioner of the Social Security Administration James B. Cardwell; Prof. William Hsiao, an actuary, formerly with HEW; Dr. Robert Ball of the Institute of Medicine and former Commissioner of the Social Security Administration; and Dr. Otto Eckstein, president of Data Resources, Inc.
On Thursday, March 4, the topic will be "monetary policy" and Chairman of the Federal Reserve Board Arthur Burns will testify.
"Foreign Policy and the Budget" is the topic of the hearing on Friday, March 5. Under Secretary of State for Political Affairs Joseph J. Sisco will testify.
On Tuesday, March 9, the topic will be "The Defense Budget." Secretary of Defense Donald H. Rumsfeld will testify at 10 a.m. At 2 p.m., Mr. Paul C. Warnke, former Assistant Secretary of Defense, will testify before the committee.
"Economic Forecast — Projections for Fiscal Year 1977" is the topic for our hearing on Wednesday, March 10. The witnesses will be Senator Hubert H. Humphrey, chairman of the Joint Economic Committee; Dr. Walter W. Heller, former Chairman of the Council of Economic Advisers; and Dr. Paul McCracken, former Chairman of the Council of Economic Advisers.
On Thursday, March 11, the topic will be "Labor and Management View the Budget."
All hearings will begin at 10 a.m. unless otherwise noted in room 357 of the Russell Senate Office Building.